Brand reporting is the most abstract part of your creed. Every brand manager understands that it’s vital to introduce his brand and make people shop for the product. But, it is hard to identify that how well are you doing.
Perhaps, you are already aware of the metrics to measure the performance of your brand. Moreover, you must know the tracking tools that help you to capture them. So, if you want to know how to track your brand reporting and results, we are here to help you out.
Firstly, let’s talk about what brand performance is and then go ahead with the further details.
What is the Brand Performance?
The brand performance reveals the popularity & effectiveness of your brand. You follow a set of actions to confirm brand awareness, brand opinion, & solid brand recollection among target consumers. So, all these actions help you to increase your sales.
Four Steps to Track Brand Performance
These four steps will help you to track your brand performance easily. So, continue reading to understand how you can do that.
The primary metric that you must know to track your brand’s performance is awareness. It reveals whether people are even familiar with your brand or can remember it with a swift prompt.
You can take the example of ‘Google’ to understand that. It has so much brand awareness that currently everybody knows well what you mean by “Let me ‘Google’ that.”
The key performance indicators (KPIs) that you search for are these:
- Prompted Brand Awareness
This awareness mentions your audience or acclaims your service or product.
- Spontaneous Brand Awareness
It can be a video, blog, or a post that mentions you without any reminders.
- Top-of-Mind Brand Awareness
Through this, you can see how your consumers see your place in the market. Also, are you an innovator or a leader in the marketplace?
So, these metrics can easily tell you how fine your brand executes in the market among various audiences.
This 2nd metric shows how well the customers are familiar with your brand & what you stand for. Occasionally, people know the name of particular brands; however, they don’t know what these products are for. So, in this way, you can create brand supporters & track your brand’s performance also.
The key familiarity indicators are as below:
- Brand Profile
It tells about what people know about the products & brands that you have?
- Self-Declared Knowledge of your Brand
People always mention your products or brand. So, make sure to look at how well they are familiar with your brand and what they tell about it.
The 3rd metric is a consideration that shows how much of your customers truly want to purchase your brand & product.
What do you need to Search?
- Purchasing Intention
Just search for data collected like communication with advertising messages, website visits, demographics & earlier purchases. In this way, you can find it easily.
Advocacy is an extremely vital metric that gazes at the divine grail of advertising, i.e. referrals. The most amazing thing regarding brand advocates is, they sell your product & brand to customers for free. Moreover, they’re a reliable source of data to the customers they’re retailing to.
That’s all, folks; this is the basic information about how to track your brand’s performance results. Generally, the firms take it beneficial to track yearly or semi-yearly. This regularity provides enough time in between tracking surfs.
So, we hope you understand the simple steps that we mentioned above. Still, if you want our help, feel free to ask us in the comment section.